The Policy Implications of Sustainable Consumption

Abstract

Policy makers are being urged to take measures that will ensure sustainable consumption. This paper seeks to clarify the meaning of sustainable consumption, with reference to the more generalised concepts of weak and strong sustainability. A review of how the concept is being applied internationally is provided. Welfare economics principles are then used to critique the concept and finally some key implications for policy are drawn: to implement policies that allow the price mechanism to signal resource scarcity to consumers; to define and promote equity goals; and to pursue natural capital management goals efficiently. Show more